Ormat Technologies – Executive Leadership Diversity (2020)
WHEREAS: We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization. Currently, Ormat’s management team has no woman and an undeterminable number of people of color. The business case for workforce diversity is compelling. McKinsey & Company, found in 2015, and in a larger study in 2017 that highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity. ISS Analytics examined companies where the CEO had a tenure of at least three years, and found companies that …
Merck & Co, Inc. – Executive Compensation (2020)
RESOLVED, that shareholders of Merck & Co., Inc. (“Merck”) urge the Compensation and Benefits Committee to report annually to shareholders on the extent to which risks related to public concern over drug pricing strategies are integrated into Merck’s incentive compensation policies, plans and programs (“arrangements”) for senior executives. The report should include, but need not be limited to, discussion of whether (i) incentive compensation arrangements reward, or not penalize, senior executives for adopting pricing strategies, or making and honoring commitments about pricing, that incorporate public concern regarding prescription drug prices; and (ii) such concern is considered when setting financial targets …
Tractor Supply Company – Executive Leadership Diversity (2020)
WHEREAS: We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization. Currently, Tractor Supply Company’s executive officer team has no woman and an undeterminable number of people of color in leadership roles. Compared to its peers, sixteen percent of non-CEO executives in the S&P1500 consumer discretionary sector are women. Nine percent of top executive roles in the Russell 3000 are held by women. The business case for workforce diversity is compelling. McKinsey & Company found in 2015 and 2017 studies that highly diverse executive …
Stryker Corporation – Executive Compensation (2020)
Whereas: Stryker seeks to improve healthcare “by working with our customers to make the world better for patients, caregivers, employees and the environment.” In 2019, Stryker’s CEO signed the Business Roundtable’s “Statement on the Purpose of a Corporation,” joining 180 chief executives who publicly commit to lead their companies for the benefit of all stakeholders—customers, employees, suppliers, communities, the environment and shareholders. To do so, we believe Stryker will require mechanisms that better align executive leadership incentives to goals that account for health impacts on the communities it serves and the environment. Including sustainability metrics in executive compensation can create …
SVB Financial Group – Executive Leadership Diversity (2020)
WHEREAS: We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization. Currently, Silicon Valley Bank leadership team has limited racial and ethnic diversity representation. The business case for workforce diversity is compelling. McKinsey & Company, found in 2015, and in a larger study in 2017 that highly diverse executive teams had higher returns on equity and earnings performance than those with low diversity. ISS Analytics examined companies where the CEO had a tenure of at least three years, and found companies that combined gender …
Johnson & Johnson – Independent Board Chair (2020)
RESOLVED: Shareholders request the Board of Directors adopt as policy, and amend the bylaws as necessary, to require henceforth that the Chair of the Board of Directors, whenever possible, be an independent member of the Board. This independence policy shall apply prospectively so as not to violate any contractual obligations. If the Board determines that a Chair who was independent when selected is no longer independent, the Board shall select a new Chair who satisfies the requirements of the policy within a reasonable amount of time. Compliance with this policy is waived if no independent director is available and willing …
Proctor & Gamble – Pay Grades & CEO Compensation (2019)
RESOLVED: Shareholders of Procter & Gamble (the “Company”) request that the Compensation Committee of the Board of Directors take into consideration the pay grades and/or salary ranges of all classifications of Company employees when setting target amounts for CEO compensation. The Compensation Committee should describe in the Company’s proxy statements for annual shareholder meetings how it complies with this requested policy.Compliance with this policy is excused if it will result in the violation of any existing contractual obligation or the terms of any existing compensation plan. SUPPORTING STATEMENT This proposal encourages the Compensation Committee to consider whether the CEO’s compensation …
Newell Brands – Executive Leadership Diversity (2019)
WHEREAS: We believe that diversity, inclusive of gender and race, are critical attributes of a well-functioning executive team and necessary to meaningfully drive diversity throughout an organization. Currently, Newell Brands has limited racial/ethnic diversity on its Management Committee and Extended Leadership Committee. Two of the eighteen committee members are women. The business case for workforce diversity is compelling. A growing body of research indicates a positive relationship between firm value and the percentage of women and minorities in senior leadership roles. A McKinsey & Company report found that companies in the top quartile for gender or racial ethnicity are more …
Alphabet, Inc. – Senior Executive Diversity (2019)
WHEREAS: Studies suggest that companies that integrate environmental, social, and governance (ESG) factors into business strategy reduce reputational, legal, and regulatory risks and improve long-term performance. Leading companies have integrated sustainability metrics into executive pay plans, among them Unilever and Walmart. The UN Principles for Responsible Investment (2012) states that considering ESG factors in compensation can help protect long-term shareholder value. Diversity, inclusion, and equity are key elements of sustainability. McKinsey research shows that companies in the top quartiles for gender and racial diversity were more likely to have above average financial returns (“Diversity Matters,” McKinsey, 2015). Yet technology companies …
Wisdom Tree Investments – Board Diversity (2019)
WHEREAS: Wisdom Tree Investments has no women on its Board of Directors and no women in its Executive Officer ranks. Its peers, Blackrock, T. Rowe Price, Invesco and E*Trade Financial each has two or more women directors. Numerous institutional investors believe that diversity on boards, as well as in senior management, is an indicator of good corporate governance. BlackRock, the world’s largest asset manager, published updated proxy voting guidelines earlier this year that stated, “we would normally expect to see at least two women directors on every board.” State Street Global Advisors reported in March 2018 that it voted against …
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